Chair the Audit Committee of a PE-backed specialty insurer writing £650m of premium, through an audit tender and a possible exit in 2028.
The role
The group writes around £650m of gross premium across marine, professional indemnity and specialty property, through a Lloyd’s syndicate and a UK insurance company regulated by the PRA and FCA. It was acquired by a mid-market private equity firm three years ago and has grown premium by 40% since. The current Audit Committee chair steps down at the AGM in March after two terms. The board has six members, three of them independent, and is led by an independent chair based in Edinburgh, where the company has its head office.
What you will do
Chair the Audit Committee, which meets five times a year, and sit on the Risk Committee.
Oversee financial reporting under IFRS 17 and Solvency UK, including reserving and the Solvency and Financial Condition Report.
Lead the external audit tender due next year.
Maintain a direct relationship with the CFO, the Chief Actuary and the head of internal audit.
Hold the SMF11 approval and engage with the PRA as required.
What you will bring
A chartered accountancy qualification and a senior career in insurance finance or audit.
Recent and relevant financial experience, ideally as a CFO or audit partner.
A detailed understanding of IFRS 17, reserving and Solvency UK.
Prior board or audit committee experience in a regulated financial services business.
Availability for around 20 days a year, with board meetings held in person in Edinburgh.
The package
An annual fee of £65,000 to £75,000, covering the Audit Committee chair and Risk Committee membership. Initial conversations with the Chair take place in Edinburgh and London in early November.
